Latest News:  
Beijing   Light to moderate rain/Light rain    13 / 8 ℃  City Forecast

English>>China Business

Average price for new homes in Shanghai rises 9%

By Cherry Cao (Shanghai Daily)

09:07, November 20, 2012

THE average price of new homes in Shanghai last week surged to the highest in 15 weeks amid an improved sentiment in the mid to high-end segment although transaction volume dipped, according to data yesterday.

Two apartments were sold last week for over 100 million yuan (US$15.87 million) each, indicating a continued positive mood among buyers of luxury properties.

The average price for new homes, excluding government-funded affordable housing, rose 9 percent from the previous week to 24,073 yuan per square meter while weekly purchases shed 2.1 percent to 197,700 square meters, according to Shanghai Deovolente Realty Co.

"A couple of luxury developments on both sides of the Huangpu River registered pretty good sales last week, led by Casa Lakeville in Puxi and Ocean One in Pudong," said Lu Qilin, a Deovolente researcher. "So far this year, only three apartments in Shanghai fetched a total price exceeding 100 million yuan and two were sold last week."

A 686 square-meter apartment at Casa Lakeville, a Shui On development in Xintiandi, was sold for 111.78 million yuan, or 163,000 yuan per square meter, while a 592 square-meter unit at Ocean One, a COFCO development in the heart of Little Lujiazui, fetched 101.94 million yuan, or 172,000 yuan per square meter, the data showed.

In September, a 619 square-meter duplex apartment at Ocean One was sold for 116 million yuan, making it the city's most expensive apartment by price.

As of Sunday, 529,700 square meters of new homes were sold in November, a monthly jump of 20 percent in October and up 22 percent in September.

We recommend:

A Decade of Fastest Development

Eastern Boom Lightens Western Gloom

Chinese firms 'potential Trojan horses'? slows

AVIC unveils new aircraft engines

China's MA700 to take flight in 2016

13th Int'l Automobile Industry Exhibition

China Int'l Industry Fair opens in Shanghai

Caofeidian coal wharf put into use

Galaxy Soho building in Beijing


Leave your comment0 comments

  1. Name


Selections for you

  1. China's stealth fighter concept model

  2. PLA Macao Garrison finishes 13th rotation

  3. Unforgettable moments in Nov. (III)

  4. Flight test of unmanned aircrafts conducted

  5. First inter-blood-type liver transplant in China

  6. Harbin Autumn Automobile Exhibition

  7. Embroider best wishes on insoles in Shanxi

  8. China's rich people will reach to 280 million

Most Popular


  1. Commentary: Hot money needs cooling
  2. Smart solutions for better city, better life
  3. China remains an 'engine' in global economy
  4. M&A of listed companies gaining steam
  5. Is 'culture' inferior to 'commercialization'?
  6. Chinese liquor makers "sober up" over bans
  7. Strength of Chinese culture lies in understanding
  8. Securing China's e-commerce growth
  9. Hammered ore prices threaten Chinese iron miners
  10. CNN Beijing chief: China's challenges, opportunities

What’s happening in China

Landmark building should respect the public's feeling

  1. Herders, sheep flock move to winter pasture
  2. First inter-blood-type liver transplant in China
  3. HIV patient to sue hospital over cancer op refusal
  4. Test in intelligent vehicle for food detection
  5. Smart card, dumb refund rules